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Sonus Networks Posts Loss

But the VoIP gearmaker exceeds Wall Street's expectations.
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Sonus Networks


swung to a first-quarter loss Monday but did a little better than Wall Street expected.

Shares of the Chelmsford, Mass., maker of voice over Internet protocol gear lost $3.7 million, or a penny a share, on revenue of $33.6 million for the quarter ended March 31. A year ago, Sonus made $3 million, or a penny a share, on revenue of $36.5 million.

The latest quarter exceeded the Thomson First Call analyst consensus estimate, which called for a 2-cent-a-share loss on revenue of $33 million. But the company noted that revenue fell 25% sequentially.

"We achieved a number of key objectives in the quarter, including strong order activity, the expansion of our customer base, establishment of new global partnerships and the introduction of new software for the ISP market. We are, of course, disappointed that our progress is not reflected in our revenue result this quarter," said CEO Hassan Ahmed. "Looking ahead, the world's service providers will continue their migrations to VoIP, and we are pleased that Sonus has a leading position in this important market."

Sonus rose 11 cents late Monday to $3.95.